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Banco de Bogotá to take over Grupo Aval's digital banking unit

Banco de Bogotá SA on March 9 said it has taken a controlling position in Aval Soluciones Digitales SA, a new digital banking company co-owned by the bank and Banco de Occidente SA, Banco Popular SA, Banco Comercial AV Villas SA and Corporación Financiera Colombiana SA, all of which are units of Grupo Aval Acciones y Valores SA.

The new company, specializing in electronic deposits and payments, will operate under a scheme for such digital entities issued by Colombia's financial regulator SFC.